ALTCOINS: Key Comparison Shows Altcoin Market Is Ready To Fly
Hello All,
The market has had a great year! Everything has been playing out nicely.
BTC has risen more than most & now we have ETH making yearly highs.
Do we know what is next? ALTS! It has happened too many times in this order.
(First bottom, then entire market bounces, then entire market corrects, then BTC outperforms along with some alts, then ETH outperforms along with some alts, then rest of alts catch up.)
Everything now points to the idea that ALTS are about to run hard!
In this idea, I am comparing the TOTAL crypto market cap (BTC & ETH & all others) to the altcoin market cap (excluding BTC & ETH & stablecoins).
As we can see, the altcoin market cap has been severely lagging behind the total crypto market cap (mainly because of BTC & ETH outperforming).
The total crypto market cap has just fully cleared its August 2022 swing high. Altcoins are nowhere near there yet!
As seen with the orange trendline drawn, when TOTAL broke over it, it has rallied straight past the 200MA and onto its first HTF higher high!
Altcoins just broke this same orange trend line! Next up is the 200MA and then the August 2022 swing high.
This seems like a high conviction play.
Keep close eyes on your favorite alts.
Thanks for reading!
Please comment and like!
The market has had a great year! Everything has been playing out nicely.
BTC has risen more than most & now we have ETH making yearly highs.
Do we know what is next? ALTS! It has happened too many times in this order.
(First bottom, then entire market bounces, then entire market corrects, then BTC outperforms along with some alts, then ETH outperforms along with some alts, then rest of alts catch up.)
Everything now points to the idea that ALTS are about to run hard!
In this idea, I am comparing the TOTAL crypto market cap (BTC & ETH & all others) to the altcoin market cap (excluding BTC & ETH & stablecoins).
As we can see, the altcoin market cap has been severely lagging behind the total crypto market cap (mainly because of BTC & ETH outperforming).
The total crypto market cap has just fully cleared its August 2022 swing high. Altcoins are nowhere near there yet!
As seen with the orange trendline drawn, when TOTAL broke over it, it has rallied straight past the 200MA and onto its first HTF higher high!
Altcoins just broke this same orange trend line! Next up is the 200MA and then the August 2022 swing high.
This seems like a high conviction play.
Keep close eyes on your favorite alts.
Thanks for reading!
Please comment and like!
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